abrdn plc Purchases 79,809 Shares of Pentair plc (NYSE:PNR)

abrdn plc boosted its stake in Pentair plc (NYSE:PNR) by 14.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 642,390 shares of the industrial products company’s stock after purchasing an additional 79,809 shares during the quarter. abrdn plc owned about 0.39% of Pentair worth $46,708,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Daiwa Securities Group Inc. grew its holdings in Pentair by 4.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 32,276 shares of the industrial products company’s stock worth $2,347,000 after purchasing an additional 1,282 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Pentair by 13.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 478,628 shares of the industrial products company’s stock worth $34,801,000 after purchasing an additional 57,010 shares during the period. United Asset Strategies Inc. grew its holdings in Pentair by 7.2% in the fourth quarter. United Asset Strategies Inc. now owns 12,484 shares of the industrial products company’s stock worth $908,000 after purchasing an additional 836 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Pentair in the fourth quarter worth $727,000. Finally, Round Rock Advisors LLC acquired a new stake in Pentair in the fourth quarter worth $313,000. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Pentair Stock Performance

Shares of PNR stock opened at $78.53 on Monday. The firm has a market cap of $13.04 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 1.50 and a beta of 1.20. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.94 and a current ratio of 1.65. Pentair plc has a 52 week low of $51.38 and a 52 week high of $85.81. The firm’s 50-day simple moving average is $80.02 and its two-hundred day simple moving average is $71.56.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.86 by $0.01. The business had revenue of $984.60 million for the quarter, compared to analyst estimates of $975.36 million. Pentair had a net margin of 15.17% and a return on equity of 20.80%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 earnings per share. As a group, equities analysts forecast that Pentair plc will post 4.2 earnings per share for the current year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, April 18th. Pentair’s dividend payout ratio is 24.53%.

Analyst Ratings Changes

PNR has been the subject of a number of analyst reports. KeyCorp lifted their price objective on shares of Pentair from $82.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Northcoast Research upgraded shares of Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Monday, April 15th. The Goldman Sachs Group reiterated a “neutral” rating and set a $91.00 price objective on shares of Pentair in a report on Friday, March 22nd. StockNews.com cut shares of Pentair from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Royal Bank of Canada lifted their price objective on shares of Pentair from $78.00 to $87.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.33.

Pentair Company Profile

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.